Ghaziabad real estate to get a boost from metro extension

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Work is going in full swing for the linking of the extended stretches of Ghaziabad through the metro route from Delhi’s Dilshad Garden to New Bus Stand at Madhopura. The trials for this route of 9.41 kilometres have been shifted to June, 2018, as per reports. The two extended routes, namely Noida Sector 62-Sahibabad and Vaishali-Mohan Nagar are estimated to cumulatively touch Rs. 3, 711 crore in terms of costs. Multiple State Agencies are expected to chip in with funds including the GDA (Ghaziabad Development Authority), UPSIDC (Uttar Pradesh State Industrial Development Corporation), GMC (Ghaziabad Municipal Corporation) and UP Housing Board.

The elevated metro corridor under the Delhi Metro’s Phase III spans 9.41 kilometres and will have 8 stations, namely Shahid Nagar, Rajendra Nagar, Raj Bagh, Mohan Nagar, Shyam Park, Hindon, Arthala and New Bus Adda. Almost 90% of work has already been executed. The GDA has already submitted its share of payments while other agencies are taking time to release funds in installments. In other positive infrastructural developments, there will be an elevated road covering 10.3 kilometres from UP Gate to Raj Nagar Extension and this will be based on the TOD (Transit-Oriented Development) model. There will also be three flyovers built in Hapur Chungi, Vasundhara and Raj Nagar Extension. This will decongest traffic along several key stretches while lowering traveling time for commuters.

The metro connectivity will boost the Ghaziabad property market immensely and commuters between Ghaziabad and the National Capital will be able to bypass the crowded roadways of Uttar Pradesh. Traveling time will be lowered hugely and this will also lead to major development in terms of new residential and commercial projects alike. Each of the metro stations are expected to spawn new residential and commercial projects. Property prices should also start rising soon in these stretches as per experts.

Resident Editor